Germany's Defense Firms Need Steelmakers to Help Fuel the Boom
German defense manufacturers including Rheinmetall AG are urging domestic steelmakers to ramp up production of military-grade metal, to secure their long-term ability to make armored trucks and tanks.
Their call comes as European nations including Germany boost defense spending in response to Russia's war in Ukraine and President Donald Trump's plan to scale back the US military's involvement in the region. German defense firms currently rely primarily on Swedish steelmaker SSAB AB for their supply, exposing them to the risk of a shortfall as demand intensifies.
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Germany's Defense Firms Need Steelmakers to Help Fuel the Boom
German defense manufacturers including Rheinmetall AG are urging domestic steelmakers to ramp up production of military-grade metal, to secure their long-term ability to make armored trucks and tanks. Their call comes as European nations including Germany boost defense spending in response to Russia's war in Ukraine and President Donald Trump's plan to scale back the US military's involvement in the region. German defense firms currently rely primarily on Swedish steelmaker SSAB AB for their supply, exposing them to the risk of a shortfall as demand intensifies.
